ONEOK, Inc. (NYSE:OKE) Sees Large Increase in Short Interest

ONEOK, Inc. (NYSE:OKE) was the target of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 28,784,189 shares, a growth of 24.0% from the January 15th total of 23,204,148 shares. Based on an average daily volume of 5,363,763 shares, the days-to-cover ratio is currently 5.4 days. Approximately 4.6% of the company’s shares are short sold. Approximately 4.6% of the company’s shares are short sold. Based on an average daily volume of 5,363,763 shares, the days-to-cover ratio is currently 5.4 days.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OKE shares. Wells Fargo & Company decreased their price target on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Scotiabank reissued an “outperform” rating and issued a $91.00 target price on shares of ONEOK in a research report on Friday, January 16th. Raymond James Financial restated an “outperform” rating and issued a $82.00 target price (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. UBS Group cut their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Finally, Barclays lowered their price objective on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.80.

Institutional Investors Weigh In On ONEOK

Institutional investors and hedge funds have recently modified their holdings of the stock. Hoxton Planning & Management LLC lifted its position in ONEOK by 2.3% during the 4th quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock worth $395,000 after acquiring an additional 120 shares in the last quarter. Bogart Wealth LLC lifted its position in shares of ONEOK by 3.1% during the second quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 122 shares in the last quarter. Disciplined Investments LLC lifted its position in shares of ONEOK by 0.6% during the fourth quarter. Disciplined Investments LLC now owns 21,577 shares of the utilities provider’s stock worth $1,586,000 after purchasing an additional 125 shares in the last quarter. TCV Trust & Wealth Management Inc. boosted its stake in shares of ONEOK by 4.2% in the fourth quarter. TCV Trust & Wealth Management Inc. now owns 3,290 shares of the utilities provider’s stock valued at $242,000 after purchasing an additional 133 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in ONEOK by 14.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,034 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 1.8%

OKE traded up $1.49 during trading on Monday, hitting $86.09. 3,987,652 shares of the company’s stock were exchanged, compared to its average volume of 4,696,689. ONEOK has a 1 year low of $64.02 and a 1 year high of $103.64. The stock has a 50 day moving average price of $75.76 and a 200 day moving average price of $73.36. The firm has a market cap of $54.17 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 4.89 and a beta of 0.96. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $1.07 dividend. The ex-dividend date was Monday, February 2nd. This represents a $4.28 annualized dividend and a yield of 5.0%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is currently 78.68%.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.